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Porsche IPO for VW Group’s EV push gains traction

(Credit: Porsche)

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On February 24, 2022, Porsche Automobil Holding SE (Porsche SE) and Volkswagen agreed to “further examine and generally support the feasibility” of a potential Porsche IPO. The possible IPO of Porsche AG would generate funds to help Volkswagen AG increase electric vehicle production and digitalization. 

“We want to support this project relying upon the resulting funds to be deployed for the transformation pushed ahead by the Volkswagen executive board, namely the electrification and digitalization offensive,” said Dr. Wolfgang Porsche, Chairman of Porsche SE’s supervisory board.

As of Thursday, Porsche SE and Volkswagen AG entered into a cornerstone agreement that summarizes previous discussions and outlines the following steps to prepare for a potential Porsche IPO. However, there have not been any final decisions about the possible IPO. The agreement is subject to numerous conditions, including the approval of the companies’ boards.

Volkswagen plans to use the potential Porsche AG IPO proceeds to finance industrial and technological transformation and promote growth. VW Group has seen some success with its all-electric ID lineup. The fully electric Porsche Taycan seems to have seen similar success. According to a financial report, VW delivered 293,000 fully electric vehicles worldwide in the first nine months of 2021. 

“We support this IPO with great conviction and confidence in the executive board of Volkswagen AG under the leadership of Dr. Herbert Diess. We are convinced that the executive board will make use of the additional funds to strengthen the Volkswagen group and accelerate the transformation of the automotive industry from a leading position in the interest of all parties involved,” Dr. Porsche added.

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After the last discussion round, the two parties agreed that the share capital of Porsche AG will be divided into 50% preferred (Vorzugsaktien) shares and 50% ordinary shares (Stammaktien) in case of an IPO. Approximately 25% of the preferred shares will be placed in the capital market. In addition, Porsche SE would acquire 25% plus one of the ordinary shares of Porsche AG from Volkswagen AG for the listing price of the preferred shares plus an additional premium of 7.5%. Further examination and discussions could change share agreements between the two parties. 

The Teslarati team would appreciate hearing from you. If you have any tips, reach out to me at maria@teslarati.com or via Twitter @Writer_01001101.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Cybertruck

Tesla confirms date when new Cybertruck trim will go up in price

Tesla has officially revealed that this price will only be available until February 28, as the company has placed a banner atop the Design Configurator on its website reflecting this.

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Credit: Tesla

Tesla has confirmed the date when its newest Cybertruck trim level will increase in price, after CEO Elon Musk noted that the All-Wheel-Drive configuration of the all-electric pickup would only be priced at its near-bargain level for ten days.

Last week, Tesla launched the All-Wheel-Drive configuration of the Cybertruck. Priced at $59,990, the Cybertruck featured many excellent features and has seemingly brought some demand to the pickup, which has been underwhelming in terms of sales figures over the past couple of years.

Tesla launches new Cybertruck trim with more features than ever for a low price

When Tesla launched it, many fans and current owners mulled the possibility of ordering it. However,  Musk came out and said just hours after launching the pickup that Tesla would only keep it at the $59,990 price level for ten days.

What it would be priced at subsequently was totally dependent on how much demand Tesla felt for the new trim level, which is labeled as a “Dual Motor All-Wheel-Drive” configuration.

Tesla has officially revealed that this price will only be available until February 28, as the company has placed a banner atop the Design Configurator on its website reflecting this:

Many fans and owners have criticized Tesla’s decision to unveil a trim this way, and then price it at something, only to change that price a few days later based on how well it sells.

It seems the most ideal increase in price would be somewhere between $5,000 and $10,000, but it truly depends on how many orders Tesla sees for this new trim level. The next step up in configuration is the Premium All-Wheel-Drive, which is priced at $79,990.

The difference between the Dual Motor AWD Cybertruck and the Premium AWD configuration comes down to towing, interior quality, and general features. The base package is only capable of towing up to 7,500 pounds, while the Premium can handle 11,000 pounds. Additionally, the seats in the Premium build are Vegan Leather, while the base trim gets the textile seats.

It also has only 7 speakers compared to the 15 that the Premium trim has. Additionally, the base model does not have an adjustable ride height, although it does have a coil spring with an adaptive damping suspension package.

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Cybertruck

Tesla set to activate long-awaited Cybertruck feature

Tesla will officially activate the Active Noise Cancellation (ANC) feature on Cybertruck soon, as the company has officially added the feature to its list of features by trim on its website.

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Credit: Tesla

Tesla is set to activate a long-awaited Cybertruck feature, and no matter when you bought your all-electric pickup, it has the hardware capable of achieving what it is designed to do.

Tesla simply has to flip the switch, and it plans to do so in the near future.

Tesla will officially activate the Active Noise Cancellation (ANC) feature on Cybertruck soon, according to Not a Tesla App, as the company has officially added the feature to its list of features by trim on its website.

Tesla rolls out Active Road Noise Reduction for new Model S and Model X

The ANC feature suddenly appeared on the spec sheet for the Premium All-Wheel-Drive and Cyberbeast trims, which are the two configurations that have been delivered since November 2023.

However, those trims have both had the ANC disabled, and although they are found in the Model S and Model X, and are active in those vehicles, Tesla is planning to activate them.

In Tesla’s Service Toolbox, it wrote:

ANC software is not enabled on Cybertruck even though the hardware is installed.”

Tesla has utilized an ANC system in the Model S and Model X since 2021. The system uses microphones embedded in the front seat headrests to detect low-frequency road noise entering the cabin. It then generates anti-noise through phase-inverted sound waves to cancel out or reduce that noise, creating quieter zones, particularly around the vehicle’s front occupants.

The Model S and Model X utilize six microphones to achieve this noise cancellation, while the Cybertruck has just four.

Tesla Cybertruck Dual Motor AWD estimated delivery slips to early fall 2026

As previously mentioned, this will be activated through a software update, as the hardware is already available within Cybertruck and can simply be activated at Tesla’s leisure.

The delays in activating the system are likely due to Tesla Cybertruck’s unique design, which is unlike anything before. In the Model S and Model X, Tesla did not have to do too much, but the Cybertruck has heavier all-terrain tires and potentially issues from the aluminum castings that make up the vehicle’s chassis, which are probably presenting some challenges.

Unfortunately, this feature will not be available on the new Dual Motor All-Wheel-Drive configuration, which was released last week.

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Tesla Model S and X customization options begin to thin as their closure nears

Tesla’s Online Design Studio for both vehicles now shows the first color option to be listed as “Sold Out,” as Lunar Silver is officially no longer available for the Model S or Model X. This color is exclusive to these cars and not available on the Model S or Model X.

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Credit: Tesla

Tesla Model S and Model X customization options are beginning to thin for the first time as the closure of the two “sentimental” vehicles nears.

We are officially seeing the first options disappear as Tesla begins to work toward ending production of the two cars and the options that are available to those vehicles specifically.

Tesla’s Online Design Studio for both vehicles now shows the first color option to be listed as “Sold Out,” as Lunar Silver is officially no longer available for the Model S or Model X. This color is exclusive to these cars and not available on the Model S or Model X.

Tesla is making way for the Optimus humanoid robot project at the Fremont Factory, where the Model S and Model X are produced. The two cars are low-volume models and do not contribute more than a few percent to Tesla’s yearly delivery figures.

With CEO Elon Musk confirming that the Model S and Model X would officially be phased out at the end of the quarter, some of the options are being thinned out.

This is an expected move considering Tesla’s plans for the two vehicles, as it will make for an easier process of transitioning that portion of the Fremont plant to cater to Optimus manufacturing. Additionally, this is likely one of the least popular colors, and Tesla is choosing to only keep around what it is seeing routine demand for.

During the Q4 Earnings Call in January, Musk confirmed the end of the Model S and Model X:

“It is time to bring the Model S and Model X programs to an end with an honorable discharge. It is time to bring the S/X programs to an end. It’s part of our overall shift to an autonomous future.”

Fremont will now build one million Optimus units per year as production is ramped.

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